Can I go back to a later stored backup

I am under the impression iCloud only stores one backup per device. If you want older backups you have to use iTunes/Finder on a computer.

"If you need to access a file that you deleted within the last 30 days, you can get it back from the Recently Deleted folder in the Files app, or on iCloud.com. After 30 days, your files are removed from Recently Deleted." --> iCloud Drive FAQ > How do I get back files that I deleted? https://support.apple.com/HT201104#recentlydeleted

Whenever I have restored from an iCloud backup or setup a new device from an iCloud backup, I have only ever been shown a single backup available for any one of my devices. There has never appeared any choice to choose anything but the most recent backup in my experience.